Many U.S. Citizens Think Recession is Already Here trade business

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ABC Domenii

Many U.S. Citizens Think Recession is Already Here

The dreaded R word is now being used commonly in news stories and polls. A new AP-Ipsos poll has found that 61% of U.S. citizens believe the country is already in a recession. 59% are worried about their stocks and retirement investments. Technically the economy needs to shrink for two consecutive quarters or six straight months (see recession definition) for it to count as a recession but for the people suffering in a struggling economy the technical definition doesn't really matter. Another poll found that most people think a Democrat and not a Republican would best be able to get the nation out of a recession - that might be a sign of the way the election is going to go in November. Even author Stephen King is weighing in. He's slamming the economic pundits who think a recession would help "purge the system."



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